KFRP LLC, in conjunction with its joint venture partner Waypoint Residential LLC, are pleased to announce the acquisition of Arrow Ridge Apartments, a 320-unit apartment complex located in Kissimmee, Florida.
The partnership plans to immediately begin its extensive capital improvement program. This capital improvement program is expected to greatly enhance the property and its income. The repositioning of the asset is expected to be completed by the end of the year.
Visit the property leasing web site ArrowRidgeApts.com to learn more.
Garden District Realty Partners acquired the 223-unit Garden District Apartment Homes, located at 100 Garden District Drive in Greenville, South Carolina, from Waypoint Residential for $22.65 million. The property, built in 2008, features best-in-class finishes including hardwood flooring, granite countertops, plantation blinds, custom cabinetry and designer lighting fixtures.
“The greater Greenville area is one of the nation’s healthiest apartment markets, fueled by consistently strong employment and population growth,” said Jordan McCarley of Multi Housing Advisors, the firm brokering the transaction. “This fundamental strength provides a bright outlook for these two assets and the area’s entire multifamily sector moving forward.”
Visit the property leasing web site LiveGardenDistrict.com to learn more.
The principals of RAS Realty Partners, together with an Institutional Investor, have formed Lake Mary Realty Partners, LLC and purchased the Regal Pointe Apartments, a 284 unit multi-family community located in Lake Mary, Florida.
The property was relaunched as the The Terraces at Lake Mary, a luxury community of one, two, three and four bedroom apartments. The residences are located in the heart of Seminole County in Lake Mary, FL.
Visit the property leasing web site TheTerracesatLakeMary.com to learn more.